Tacita Capital Inc Sells 643 Shares of The Bank of Nova Scotia (NYSE:BNS)

Tacita Capital Inc lowered its stake in shares of The Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) by 2.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,487 shares of the bank’s stock after selling 643 shares during the quarter. Bank of Nova Scotia accounts for 1.2% of Tacita Capital Inc’s investment portfolio, making the stock its 28th largest holding. Tacita Capital Inc’s holdings in Bank of Nova Scotia were worth $1,687,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. First Trust Direct Indexing L.P. lifted its position in shares of Bank of Nova Scotia by 12.5% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 7,890 shares of the bank’s stock valued at $430,000 after buying an additional 878 shares during the last quarter. US Bancorp DE raised its stake in shares of Bank of Nova Scotia by 25.7% during the 3rd quarter. US Bancorp DE now owns 84,281 shares of the bank’s stock valued at $4,592,000 after purchasing an additional 17,232 shares during the period. Farther Finance Advisors LLC raised its stake in shares of Bank of Nova Scotia by 11.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,713 shares of the bank’s stock valued at $148,000 after purchasing an additional 288 shares during the period. Van ECK Associates Corp raised its stake in shares of Bank of Nova Scotia by 28.6% during the 3rd quarter. Van ECK Associates Corp now owns 359,146 shares of the bank’s stock valued at $18,819,000 after purchasing an additional 79,854 shares during the period. Finally, Intact Investment Management Inc. raised its stake in shares of Bank of Nova Scotia by 48.3% during the 3rd quarter. Intact Investment Management Inc. now owns 1,563,594 shares of the bank’s stock valued at $85,201,000 after purchasing an additional 509,120 shares during the period. Hedge funds and other institutional investors own 49.13% of the company’s stock.

Bank of Nova Scotia Price Performance

Shares of NYSE BNS opened at $49.38 on Tuesday. The firm has a market capitalization of $61.50 billion, a P/E ratio of 11.43, a P/E/G ratio of 1.16 and a beta of 1.07. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.59. The stock’s 50-day simple moving average is $51.55 and its two-hundred day simple moving average is $52.50. The Bank of Nova Scotia has a twelve month low of $43.67 and a twelve month high of $57.07.

Bank of Nova Scotia Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Tuesday, April 1st will be given a dividend of $0.7415 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.97 annualized dividend and a dividend yield of 6.01%. Bank of Nova Scotia’s dividend payout ratio (DPR) is presently 82.20%.

Wall Street Analyst Weigh In

BNS has been the topic of a number of analyst reports. CIBC reiterated a “neutral” rating on shares of Bank of Nova Scotia in a research note on Tuesday, February 18th. Barclays upgraded Bank of Nova Scotia from an “underweight” rating to an “equal weight” rating in a research note on Thursday, November 21st. Cibc World Mkts lowered Bank of Nova Scotia from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 18th. Royal Bank of Canada decreased their target price on Bank of Nova Scotia from $83.00 to $81.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 26th. Finally, Canaccord Genuity Group upgraded Bank of Nova Scotia from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Bank of Nova Scotia currently has a consensus rating of “Hold” and a consensus price target of $75.50.

About Bank of Nova Scotia

The Bank of Nova Scotia provides various banking products and services in Canada, the United States, Mexico, Peru, Chile, Colombia, the Caribbean and Central America, and internationally. It operates through Canadian Banking, International Banking, Global Wealth Management, and Global Banking and Markets segments.